The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-10

AOSET 8TO PER CENT, NEW
YORK EXCHANGE 1.8 PREM.
Cotton Q"iet-Middlisg Cotton, lOsc
SALES To-day IS
Bales.
APPEAL 0FFIOI,

SATURDAY EvIsINe. July 9, 1887
The bank rate for money is unchanged
6to per cent, the outside figure ruling.
Dullness prevailed today at the stock call
board, the bids aad offerings being far apart
aud no salei registered. The local cotton
arke. wa. quiet and unchanged. with sales
els bales. At New Orleans spots declined
l-l6o, aud futures were Of TO 7 points.
The FIRE insurance business Of the Nom
phis City Fire Insurance Company has been
sold to tho North British and Mercantile In.
STRANGE Company. of which Mss'rs. Nelson
4 Raine are the local agents. The good will
Of the coupany goes with the business.
A leading New York cotton circular Of
date the 9th, says Of the future market; 1T
was small and uneventful, market today
with the tone on the whole rather easy, clos
ing about steady"
Tho general trade is steady. Breadstuffs
and pr visions are 6rmer and the grocery
market is arm. Coffee still remains high
and firm. Tho Rio Janeiro Ne,O'. ofJune 5th.
says; "As We had prsphesied, the available
stock Of coffee In Rio has been systematical-
ly uudersstimated. On the morning Of the
18th ult. our coffee brokers reported that the
stock was 5000 bags; on the morning Of the
18th these same brokers discover that our
stock should DO increased by $4,000 bags re-
sales from exporters to dealers. Now 1t Is per.
tectly clear that II within twenty-four hours
90 important a quintity as $4,000 bags may
DO added to stock. there can DO no limits to
future additions to Il. When Iurther sales
again reduce stock to 10000 bags, brokers
will possibly discover another $1,000 bags
that have beon resold; Aod we have reason
10 believe that even these second $1,000 bags
would not entirely cover resalos, which
sooner or later are TO appear as additions to
stock.
According to the San Francisco Bullsiiu
the last steamer from Hong Kong brought
three consignments Of trade dollars, namely
80 300, SO 500. $3.50, or s33, $50 In all. Lately
the Chinese have imported most that have
been received. The last lots we're all con-
signed TO Cinnamon. 0ne Of there lots was
gathered at Singapore and carried to Hons
Kong on q Chinese junk for the steamer.
The Chinese buy Mexican dollars here for u
cents and send them t. Hong Hong, where
they exchange them fer trade dollars. viii h
arc brought to this city and turned
into the United States Treasury on
Commercial street for standard dsllars, piec,
for piece. One Of these importers reesn ~
appeared at the window Of the ressivins
teller with q lot which no wished
10 exchange for half dollars
thinking that by that mems no could return
next day with the half dsllars aud deman
geld. but the teller saw through the scheme
and gave John standard dollars In exchange
for his trade dollars. The redemption Of
trade dollars will expire August LIST. Thu
fAr about 1858, 900 have bo,n redeemed In thii
city. and over N.0oe.O 600 for the country Al
large. There are four more steamers expect.
Cd before AugustSst. and each will probably
bring from $500 to 90. 900. The passage Of
this redemption law moan, q loss Of about
n,00O.oO 10 the govern ment. q portion Of
which goes 70 enrich the Chinaman.
IMPORTS.
Forty thres pkgs butter 500 rolls bagrinr q
pkgs bacon, lt2 pkgs boots and shoes, 300 bu
corn, 30 pkgs dry goods, 70 pkgs eggs. SIS bril-
eour, so bales hay, 10 pkgs hats, 10000 fec,
lumber. ls6 pk. q liquors, $50 bills lime. l0l
bbls molassss, 300 kegs nails, s cars port
.Isss, lt6 brls sugar. 30 pkgs tobacco and 2i0'
bu wheat.